The Frax Finance community has voted to accept BlackRock's BUIDL as the contingent asset for the proposed Frax USD (frxUSD) stablecoin, with voting open until January 1, 2025.

The #Frax financial community is wondering whether to adopt #BlackRock Institutional's USD Digital Liquidity Fund (BUIDL) as the back-up asset for the proposed Frax USD (frxUSD) stablecoin. BUIDL), and has launched an important voting process to decide whether to accept it.
The voting process, which began on December 26, 2024, will be open until January 1, 2025. So far, all Decentralized Finance (DeFi) Lending Protocol (FXS) token holders have voted in favor.
According to the voting summary, BlackRock's BUIDL as a backup asset for Frax USD Acceptance could bring several benefits. These include creating revenue opportunities, increasing liquidity, improving transfer options and reducing counterparty risk with the support of BlackRock.
Originally introduced by Securitize, a real asset tokenization platform, this service is an institutional
This proposal has received significant support from the Frax Finance community. In a discussion on December 22, a user with the nickname achaffee user with the nickname RWA, highlighted the potential for tokenized real-world assets (RWAs) to bridge the gap between traditional finance and #DeFi .
achaffee noted that RWAs are a great bridge because they allow institutional-level investments to be included on the #blockchain . He stated. This view is shared by others in the community, who believe that BlackRock's BUIDL integration could be an important evolution in how decentralized players manage their financial resources.
BlackRock's BUIDL fund will launch on March 15, 2024. Less than four months after the launch, which will take place on March 15, 2024, the fund has more than $500 million in assets under management, is pegged 1:1 to the USD and pays daily accrued dividends directly to investors thanks to a partnership with Securitisation The fund

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